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Not stars, this Indian startup is aiming for the moon

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A bunch of co-founders are excited — there’s no reason for them not to be. Team Indus — their startup — is now officially eligible to be the first team from India to send a spacecraft to the moon. Team Indus, India’s only entry for Google Lunar XPRIZE, last week signed a verified commercial launch contract with Indian Space Research Organisation (ISRO) for its mission. Soft landing on the moon has been done by only three countries so far — the US, Russia and China. Funded with USD 15 million, Team Indus has designed a spacecraft and has announced a launch window for the same.

The journey will start on December 28, 2017. The polar satellite launch vehicle will inject a spacecraft into an orbit 880 km x 70,000 km around the earth. The spacecraft will then undertake a 21-day journey to soft land in Mare Imbrium, a region in north-western hemisphere of the moon.

Nestle India declares third interim dividend

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Nestle India Ltd ⧭ has informed BSE that the Board of Directors of the Company at its meeting held on December 05, 2016, has declared third interim dividend of Rs.16/- (Rupees sixteen only) per equity share for the year 2016 on the entire issued, subscribed and paid up share capital of the Company of 9,64,15,716 equity shares of the nominal value of Rs. 10/- each.

The third interim dividend for 2016 will be paid on and from December 22, 2016 to those members whose names appear on the Register of Members of the Company and as beneficial owners in the Depositories, determined with reference to the Record Date of December 13, 2016.The meeting of the Board of Directors commenced at 9:00 hours and concluded at 9:40 hours.

बल्क डिपॉजिट में की भारी कटौती

 बल्क डिपॉजिट में की भारी कटौती

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देश के सबसे बड़े पब्लिक सेक्टर बैंक एसबीआई ने बल्क डिपॉजिट दरों में 1.50 फीसदी की कटौती की है। अब एसबीआई में 1 से 10 करोड़ रुपये जमा करने पर 1.5 से 2 फीसदी तक कम ब्याज मिलेगा। स्टेट बैंक ऑफ इंडिया की तरफ से एक हफ्ते में ये दूसरी कटौती है। जमा दरों में बड़ी कटौती के बाद उम्मीद लगाई जा रही है कि लोन की ब्याज दरों में भी अच्छी-खासी गिरावट आ सकती है।

 

बता दें कि 1 करोड़ रुपये से ऊपर की रकम बल्क डिपॉजिट मानी जाती है। बल्क डिपॉजिट पर घटी हुईं दरें 24 नवंबर से लागू होंगी। इससे कारोबारियों और इंस्टीट्यूशंस पर ज्यादा असर पड़ेगा। डीमोनेटाइजेशन से नकदी में सुधार की वजह से एबीआई ने ये फैसला लिया है। एसबीआई के पास कुल घरेलू डिपॉजिट 17.68 लाख करोड़ रुपये का है और कुल डिपॉजिट में बल्क डिपॉजिट का हिस्सा 8 फीसदी है।

 

उम्मीद है कि एसबीआई के बाद अब दूसरे बैंक भी डिपॉजिट दरें घटाएंगे। पिछले दिनों 1 करोड़ रुपये से कम डिपॉजिट पर भी दरें घटीं है। उम्मीद है कि आने वाले दिनों में एफडी पर दरें और घटेंगी। इसी लिए इसे एफडी कराने का आखिरी मौका कहा ज रहा है।

Rupee opens at fresh 9-month low; down 18 paise

Rupee opens at fresh 9-month low; down 18 paise

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The Indian rupee opened at fresh 9-month low at 68.74 per dollar on Thursday. It has slipped 18 paise versus previous close 68.56. The rupee is near to its record closing low of 68.85 per dollar, which it has tested on August 28, 2013. Dollar rally across the board is continuing. December US Fed rate hike is now certain. While Rupee has weakened sharply against Dollar, it has in fact strengthened against currencies like euro and yen. Expected, the USD-INR to trade in a range of 68.65-69/dollar for the day.

Japan lifts tsunami warning along northeast coast after quake

 

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The Japanese government today lifted its tsunami warning for the northeast coast of the country after a powerful earthquake shook the region earlier in the day. “The tsunami advisory has been lifted,” the Japan Meteorological Agency said in a statement released at 12:50 pm (0350 GMT) on its website.

Mumbai’s new TDR policy : What is?

Mumbai’s new TDR policy : What is?

 

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Mumbai has a new Transfer of Development Rights (TDR) policy that is linked to the width of the road beside the project’s site. As per the new policy, projects on roads that are less than nine metres, will be granted no TDR benefit, while projects on roads over 30 metres wide, will get FSI of 2.5. New TDR policy: How it affects Mumbai’s real estate market The modified policy allows buying/selling of TDR across the city. Earlier, the TDR could only be sold to developments north of where it was originally generated.

 

It will also allow developers to load additional FSI to developments, in areas where the demand is high. Furthermore, a developer can generate cash flows, by transferring the development rights to a potentially larger market. “As it will take time for additional TDR to be generated from this policy, it may lead to a short-term increase in the prices of TDR that is already available for purchase.

 

The purpose of TDR is to provide a certain amount of additional built-up area, in return for the area surrendered by the land owner. Developers, hence, are disappointed with the lack of additional construction benefits, for projects located near roads with a width of less than nine metres. This new policy will only benefit big developers, who are building projects along wider roads, they opine.

L&T bags Rs 1,926 cr projects in various business segments

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Engineering major Larsen & Toubro (L&T) today said its construction arm has bagged projects worth Rs 1,926 crore across various business verticals. In the power transmission and distribution segment, it bagged orders worth Rs 571 crore. The business continued its winning streak by garnering electrification work orders under the Integrated Power Development Scheme (IPDS) and Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY) schemes of the government, it said. A major order has been bagged from Odisha Power Transmission Corporation Ltd (OPTCL) for turnkey electrification works in five circles of the WESCO utility area in Odisha.

 

Another order from Madhyanchal Vidyut Vitaran Nigam Ltd. (MVVNL), Lucknow, is for electrification works in the three tehsils of Unnao district in the state of Uttar Pradesh. Furthermore, the business has won orders from reputed customers for turnkey construction of solar PV plants in Uttarakhand and Rajasthan.

 

In building and factories vertical, it bagged an order worth Rs 514 crore for the construction of a medical college and a 500-bed hospital from Bihar Medical Services & Infrastructure Corporation Ltd, Bihar. The scope of the work includes civil, and external development.

निफ्टी 7950 के आसपास, सेंसेक्स 0.25% मजबूत

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बाजार में आज भी उतार-चढ़ाव के साथ कारोबार देखने को मिल रहा है, लेकिन राहत की बात ये है कि अब भी बढ़त बरकरार है। हालांकि दिन के ऊपरी स्तरों से बाजारों ने अपनी अच्छी खासी बढ़त जरूर गंवाई है। दिन के ऊपरी स्तरों से सेंसेक्स 200 अंकों से ज्यादा गिरा है, जबकि निफ्टी 50 अंकों से ज्यादा की तेजी गंवाई है। सेंसेक्स और निफ्टी में 0.25 फीसदी की बढ़त के साथ कारोबार नजर आ रहा है। इस समय निफ्टी 7950 के आसपास है, जबकि सेंसेक्स 25800 के आसपास है।

मिडकैप शेयरों में भी खरीदारी दिख रही है, लेकिन स्मॉलकैप शेयरों की चाल सुस्त है। बीएसई का मिडकैप इंडेक्स 0.3 फीसदी तक बढ़ा, जबकि निफ्टी का मिडकैप 100 इंडेक्स 0.4 फीसदी की मजबूती दिखा रहा है। बीएसई का स्मॉलकैप इंडेक्स सपाट नजर आ रहा है।

Suzuki Motor to Invest $970 Million in second Production line in Gujarat

Japan’s Suzuki Motor Corp will invest about 100 billion yen ($970.97 million) in a second vehicle production line at its new plant in Gujarat, even before operations have begun, the Nikkei business daily reported on Friday. The second line could debut in early 2019, the report said, and will manufacture the same yearly volume as the first production line, which is slated to debut in 2017.
The addition of the production lines are expected to increase Suzuki’s manufacturing capacity to 2 million cars a year, the paper said. The new factory in Gujarat will manufacture models such as the Baleno hatchback, with vehicles for export also being considered due to Gujarat being a major port, Nikkei said.
Suzuki’s unit, Maruti Suzuki India , had earmarked an investment of about 185 billion rupees ($2.77 billion) for the Gujarat plan in December last year, to set up six production lines capable of producing 250,000 vehicles each, Reuters reported in December. Suzuki Motor said vehicles sales in India, its biggest market, rose 5.2 percent in the April-June period.
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Reliance MF to Manage Goldman Sachs MF’s Schemes from Nov 5

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Reliance Nippon Life Asset Management will manage all the schemes of Goldman Sachs Mutual Fund from November 5. Reliance Nippon Life Asset Management, in October 2015, announced takeover of global giant Goldman Sachs Mutual Fund business in India for Rs 243 crore in an all-cash deal. Goldman Sachs MF has 12 schemes in operation and will transfer them to Reliance MF.
“Unitholders are requested to note that on and from November 5, 2016, the right to manage and administer all the schemes of Goldman Sachs MF will be transferred from Goldman Sachs Asset Management (India) Pvt Ltd to Reliance Nippon Life Asset Management, the asset management company of Reliance MF,” Goldman Sachs MF said in a notice.
All the schemes of Goldman Sachs MF will also become an integral part of Reliance MF, it added.
In a circular, BSE said name of eight schemes — Goldman Sachs Gold Exchange Traded, Goldman Sachs Nifty Exchange Traded, Goldman Sachs Banking Index Exchange Traded, Goldman Sachs Liquid Exchange Traded, Goldman Sachs Nifty Junior Exchange Traded, Goldman Sachs PSU Bank Exchange Traded, Goldman Sachs Hang Seng Exchange Traded and Goldman Sachs CNX Nifty Shariah Index Exchange Traded — will also be changed. However, there is no revision in scheme name of CPSE ETF .